Sequans Communications (NYSE:SQNS) Major Shareholder Buys $118,424.00 in Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 22,600 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was acquired at an average price of $5.24 per share, for a total transaction of $118,424.00. Following the completion of the purchase, the insider owned 1,895,678 shares of the company’s stock, valued at $9,933,352.72. This trade represents a 1.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Daniel Asher also recently made the following trade(s):

• On Tuesday, January 20th, Daniel Asher acquired 19,660 shares of Sequans Communications stock. The shares were purchased at an average price of $5.29 per share, with a total value of $104,001.40.
• On Friday, January 16th, Daniel Asher acquired 11,631 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.65 per share, for a total transaction of $65,715.15.
• On Thursday, January 15th, Daniel Asher bought 28,200 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.65 per share, with a total value of $159,330.00.
• On Wednesday, January 14th, Daniel Asher acquired 15,100 shares of Sequans Communications stock. The shares were bought at an average cost of $5.69 per share, for a total transaction of $85,919.00.
• On Tuesday, January 13th, Daniel Asher purchased 57,809 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.51 per share, for a total transaction of $318,527.59.
• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The shares were purchased at an average price of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher bought 27,032 shares of Sequans Communications stock. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $135,160.00.
• On Wednesday, January 7th, Daniel Asher purchased 21,900 shares of Sequans Communications stock. The shares were purchased at an average cost of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Price Performance

NYSE SQNS traded down $0.05 during trading hours on Thursday, reaching $5.31. The company’s stock had a trading volume of 103,765 shares, compared to its average volume of 167,101. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 0.97. The company’s 50-day moving average is $5.50 and its two-hundred day moving average is $10.24. Sequans Communications S.A. has a fifty-two week low of $4.44 and a fifty-two week high of $58.30. The stock has a market cap of $76.09 million, a PE ratio of -0.66 and a beta of 0.22.

Wall Street Analyst Weigh In

A number of analysts recently commented on SQNS shares. Lake Street Capital began coverage on Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. Finally, B. Riley lowered their target price on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SQNS. Hood River Capital Management LLC acquired a new position in Sequans Communications in the second quarter valued at $20,746,000. NewGen Equity Long Short Fund acquired a new position in shares of Sequans Communications in the 2nd quarter valued at about $4,638,000. NewGen Asset Management Ltd purchased a new stake in shares of Sequans Communications during the 2nd quarter worth about $4,638,000. Boothbay Fund Management LLC increased its position in Sequans Communications by 1.5% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Yorkville Advisors Global LP purchased a new position in Sequans Communications in the third quarter valued at approximately $7,218,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

About Sequans Communications

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.